BSTDB SUPPORTS THE EXPANSION OF A RETAIL CHAIN IN ARMENIA

The FINANCIAL
Jan 22 2008
Georgia

The FINANCIAL — BSTDB provided a USD 7.6 million secured term loan to
"SAS Group LLC". BSTDB’s funds will be used to support the company’s
expansion program, which involves the opening of 3 new supermarkets
in Yerevan.

BSTDB’s facility will contribute to the development of the food
distribution sector, an important element of infrastructure of national
economy. It is expected to produce positive effect on standards of
living in Armenia, its agribusiness sector, to contribute to the
creation of new jobs and promote economic co-operation and trade
among several countries of the Black Sea Region.

SAS Group LLC is one of the three leading supermarket chains operating
in Armenia. Currently the company operates 3 supermarkets which are
all situated in prime locations in the central districts of Yerevan.

The Black Sea Trade and Development Bank (BSTDB) is an international
financial institution established by Albania, Armenia, Azerbaijan,
Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and
Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. With
an authorized capital of SDR 1 billion (approx. US$ 1,45 billion),
the Bank supports economic development and regional cooperation by
providing loans, credit lines, equity and guarantees for projects in
the public and private sectors in its member countries.